Financial development and economic growth in Malaysia
In: Routledge studies in the growth economies of Asia 86
21 Ergebnisse
Sortierung:
In: Routledge studies in the growth economies of Asia 86
In: European Journal of Political Economy, Band 64, S. 101914
In: Journal of development economics, Band 105, S. 1-18
ISSN: 0304-3878
In: Journal of development economics, Band 105, S. 1-18
ISSN: 0304-3878
World Affairs Online
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Band 38, Heft 8, S. 1070-1081
In: Contemporary economic policy: a journal of Western Economic Association International, Band 28, Heft 3, S. 378-391
ISSN: 1465-7287
This paper examines the determinants of private investment in Malaysia, with an emphasis on the postcrisis investment slumps. A static private investment function is derived from the neoclassical framework, with appropriate modifications to account for the structural features observed in the country. To introduce dynamics into the model, we adopt a cost minimization problem, which assumes firms optimize investment levels with respect to a quadratic loss function. The results suggest that the availability of financial resources in the economy has a significant positive impact on private investment. Macroeconomic uncertainty exerts a negative influence on the investment climate in the private sector. Both foreign direct investment and public investment are found to have a complementary effect on private investment. Consistent with the prediction of the neoclassical model, a higher level of aggregate output raises private investment, whereas the user cost of capital has the opposite impact. (JEL O16, O53)
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Band 38, Heft 8, S. 1070-1081
ISSN: 0305-750X
World Affairs Online
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Band 37, Heft 7, S. 1261-1273
In: Contemporary economic policy: a journal of Western Economic Association International, Band 26, Heft 4, S. 623-635
ISSN: 1465-7287
This paper provides an empirical assessment of the effects of financial sector policies on development of the financial system in Malaysia over the period 1959–2005. The technique of principal component analysis is used to construct a summary measure of interest rate policies in order to account for the joint influence of various interest rate controls imposed on the Malaysian financial system. The results show that economic development, interest rate controls, and capital liquidity requirements positively affect the level of financial development. However, greater trade openness, higher statutory reserve requirements, and the presence of directed credit programs appear to be harmful for development of the Malaysian financial system. The results provide some support to the argument that some form of financial restraints may help promote financial development. (JEL E44, E58, O16, O53)
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 30, Heft 1, S. 185-189
ISSN: 0161-8938
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 30, Heft 2, S. 271-278
ISSN: 0161-8938
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 30, Heft 1, S. 185
ISSN: 0161-8938
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 30, Heft 2, S. 271-278
ISSN: 0161-8938
In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 45, Heft 4, S. 1608-1639
ISSN: 1540-5982
Abstract Although ideas production plays a critical role for growth, there has been only a modicum of research on the role played by financial forces in fostering new inventions. Drawing on Schumpeterian growth theory, this paper tests the roles of risk capital and private credit in stimulating knowledge production. Using panel data for 77 countries over the period 1965–2009, we find that countries with more developed financial systems are more innovative. A stronger patent protection framework, on the other hand, curbs innovative production.
In: Journal of development economics, Band 84, Heft 1, S. 215-233
ISSN: 0304-3878